Can someone give me a betting strategy (units)

Mlink · Mar 11, 2011

I've had enough of my betting strategy that I use, its terrible money management, it seems like i am depositing each week ##)##)

i do ML parlays, straight wagers, etc etc, i just throw money down ranging from 50-200 usually but last week lost two HUGE 5grand and 10grand plays... can someone give me a good strategy? for example... 1 unit is 25 dollars? anyone have a sheet or a guideline for money management?

Thanks

jonnyangel · Mar 11, 2011

some basic guide lines would include betting 3-5% of your bankroll on each play, or just stick with a fixed amount for all plays, and NO parlays. To say one play ($10,000) is 200 times stronger than another ($50) is ludacris.

TomGshotput · Mar 11, 2011

If it's a -EV game, bet zero

If it's +EV, bet according to Kelly Criterion

Follow that and "money management" will never again factor into doing poorly gambling

Mlink · Mar 11, 2011

johnny, i bet villanova ML, and i bet the seton hall ML, so i figured they were both locks to win... if either of them hit their 1 and 1 free throws with 10 seconds left, i win both... so its been tough

Maniac · Mar 11, 2011

Forget parlays for a start as they are more likely to lose than win - and by the sounds of it, when you start losing you start chasing and upping your stakes...and that can be one of the most dangerous things a bettor can do.

If you are having this much of an issue then most companies can put a deposit "cap" on your account so that you cant deposit more than an agreed amount over the course of a Day/Week/Month etc. This still needs some disipline if you have lots of different books you use, but if your normal bet is $50-$200 then you should be able to find a suitable deposit cap to still allow you to bet your normal limits, but not high enough to allow you to lump on the 5k bets. I would suggest something like $2500 which will give you 50 x $50 bets.

Also, I would suggest not keeping a lot in your account - make sure you have enough for a few bets at your usual stake, but if you are having trouble with money management then the more you have in your account, the more the temptation will be.

The most important thing right now though I think is to take a step back and have a little break from gambling for a bit to try to clear your head. It will give you time to reflect go over your recent losing bets and try to see where you went wrong - why was it that you lost them, was it bad luck or bad handicaping ? Did you lose the "impulse" bets because you were chasing and simply went with your gut instead of putting the work in etc

Best of luck and hope you can turn it around :toast:

Mlink · Mar 11, 2011

thanks man... umm it was very bad luck, and playing too many plays, i actually had a winning day yesterday and i read a post when i signed on here about 3 strong plays.. played them all, parlayed them all, straight wager, teaser, you name it.. entire account... gone, wasnt much but still it was rough

i just have bad luck, i also tend to wander around the sportsbook site and play 'casino' games, the fake rigged BS blackjack game that i always lose on, but i for some reason still play it..

i guess i am trying to do a chart, start with 1000, play 40 dollars per bet and thats it, no funny games or parlays and i think i will do well.. i go to casino a lot to play blackjack and always do well there because i am good with money management there so i guess i have to look at it the same

bring down a grand, play 50-100 dollars per play if i am starting to get hott or a play is strong then press.... but i cant seem to learn that concept

Maniac · Mar 11, 2011

If the sportbook casinos are sucking you in as well then, again, these can usually be blocked if you contact the book and ask them to block them for you.

Never be worried about asking for limits to be put in place, or for things like casinos to be blocked for you - often a book will be more than happy to do this for you, and in most cases will actually be forced to block them on request depending on the regulations from whatever jurisdiction they are licenced.

At the end of the day, a book doesnt want the guy who comes in and loses his wallet and is never seen from again - they would much prefer to grind it out of you in the long run as the longer you play, the more they can suck out of you without you really noticing it...

Mlink · Mar 11, 2011

yes true... i agree

RenoChazz · Mar 11, 2011

play a thousand games over a year flat at ten bucks. Find out your ROI, if it's minus than it doesn't matter what money management you use you will lose, if its only 1% ROI profit then there's your unit size. 1% of your bank roll bank roll of 10k would =$100 a unit. My advise is to bet a little less than your ROI% cause then you really never sweat losing streaks.

WorldNumberOne · Mar 11, 2011

you normally bet 50 to 200 a game , but made a bet of 5000 and another of 10,000 ?

i'd say stop gambling for good. thats your best strategy in my opinion.

Stylez · Mar 11, 2011

just take all of your bankroll and put it on Tampa Bay Lightning Or Detriot Right now !!!

RenoChazz · Mar 11, 2011

Stylez said:
just take all of your bankroll and put it on Tampa Bay Lightning Or Detriot Right now !!!

lol both teams are down right now. Take your whole bank roll and put in on Kings to win the Stanley Cup

Stylez · Mar 11, 2011

RenoChazz said:
lol both teams are down right now. Take your whole bank roll and put in on Kings to win the Stanley Cup

LOL i didnt say it was a good move !!

sean1 · Mar 12, 2011

I recommend you do no place any more bets.

CujoLatte · Mar 12, 2011

sean1 said:
I recommend you do no place any more bets.

English please...........

trytrytry · Mar 12, 2011

never ever make another wager...

CujoLatte · Mar 12, 2011

You can also just sign up for the Ace-Ace Promo ($100.00 dollar deposit in a book) and he tells you what to bet. He e-mails you his 3 or 4 unit plays. Make a unit 50 bucks, thats what I do. Sit back and collect the money. Right now on that promo he is + 6 units.... that easy.

Mlink · Mar 12, 2011

thanks........appreciate the input

Can someone give me a betting strategy (units)

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